Must-Have Home Features in 2022
Although mortgage rates and house prices continue rising, the number of homes on the market is expected to increase. In a competitive market, it’s crucial to appeal to homebuyers, especially when they are stretching themselves thin to begin with—from seemingly insignificant features like pot fillers, to more large-scale products, perhaps a pantry or patio addition—the smallest upgrades can make a sizable impact.
Let’s unpack some home features homebuyers are looking for this year.
Laundry Rooms
A designated and decorated laundry room can make all the difference—in 2021, 87% of homebuyers rated a laundry room as either essential or desired. Basements are the easiest place to install a laundry room, but including them on the first or second floor can be an added bonus. Less walking around with filled laundry baskets in tow is a plus for any homebuyer.
Try adding some custom cabinetry, storage or a utility sink to spruce up the space, and looking into financially resourceful ENERGY STAR Certified appliances.
Functional & Fresh Kitchens
It’s no secret many view the kitchen as the heart of the home—where cooking and baking are always on the agenda, and memories with family and friends are made. Smart kitchen upgrades can be anywhere from a double kitchen sink, under-cabinet lighting and/or a striking kitchen island as the space’s focal point.
Pot fillers are a smaller yet unique and attention grabbing addition. Surprisingly, they can boost a home’s value by 3.2%. Pantries, although a more considerable investment, are also an engaging feature—47% of buyers rank them as desired.
At the end of the day, buyers will remember a beautiful kitchen.
Exterior Lighting
An aesthetic element meets an added security measure in exterior lighting, and homebuyers will appreciate it. In fact, it was the second most wanted home feature out of 200+ in 2021. Plus, installation is somewhat cheap compared to other home enhancements—making it an easy, ideal fix or improvement.
Outdoor Living Space
Whether it’s a patio, front porch or both, buyers will love an outdoor space to entertain and unwind. Luxurious patio upgrades could be a deck, built in barbecue or outdoor kitchen. For a cheaper option, try some trendy lighting or comfortable seating. On the other side of the home, front porches offer a relaxing area for people watching or just enjoying the summer air.
Hardwood Floors in Living Area
Hardwood flooring has quickly become preferred to its classic carpeted counterpart. Where carpet will last 10-15 years, hardwood flooring could make it through an entire century. Hardwood flooring is also easier to maintain, excellent for alleviating allergy symptoms and adds real estate value.
Plus, many argue hardwood flooring just looks better, cleaner and more natural—upping a home’s overall aesthetics and display.
Overall, if you aren’t able to make the big ticket upgrades—don’t fret. Buyers are primarily looking for something move-in ready with a few memorable updates.
Contact Ross Mortgage today for advice on how to make your home stand out to potential buyers in today’s competitive market!
